Wal-Mart Patents a Blockchain Digital Currency

Wal-mart has already experimented with the underlying tech for produce tracking.   Is this beyond that? Or an extension of distributed ledger?  Intriguing all around.

SYSTEM AND METHOD FOR DIGITAL CURRENCY VIA BLOCKCHAIN   (Wal-Mart Patent description)

Abstract
A method include: generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain; buying or paying the one digital currency unit; determining whether restrictions are applied to the one digital currency unit by referring to one or more documents associated with the one digital currency; recording the determination in a block of the blockchain; overlaying the one digital currency unit with customer purchase history; calculating savings based on the one digital currency unit again naked forecast; applying the savings to customer purchases; using the one digital currency unit for accepted goods or services with the saving if the one digital currency unit is restricted; using the one digital currency unit for any goods or services with the saving if the one digital currency unit is unrestricted; and storing the one digital currency into a digital currency reserve. .... " 

Gartner speculates on this and other related efforts:

Libra and Walmart “Blockchain” Tokens: Financial or Walled Garden Inclusion?   by cuzureau  

" ...... Walmart has been active in providing alternative payment and account solutions to underbanked, such as prepaid accounts. However mentioning financial inclusion is an opportunity for Walmart to move the debate toward the fees charged by banks and card networks. A Walmart token would reduce the cost of payment acceptance (by canceling merchant service charge since payments will be “on-us”).

In theory some of the savings generated could be transferred to the customer, and for example encourage the customer to save more (via rewards or higher interest rates on deposits). But clearly this will demand that Walmart lacks a banking license and they failed to acquire one in the past4. And this would be needed to deliver impactful banking services to unbanked and underbanked. That said, could a digital wallet containing Walmart tokens and receiving reward tokens at the end of given period be considered by the regulator as a deposit account? ..... "